1989-01-09 - Resolution 1989-01 - APPROVING AN IGA BTWN VBG AND THE SUBURBAN BUS DIVISION OF THE REGIONAL TRANSPORTATION AUTHORITY (PACE)RESOLUTIOAI 89_ I
A RESOLUTION APPROYIIVG AN INTERGOVERNMENTAL AGREEMENT
BETWEEN THE VILLAGE OF BUFFALO GROVE AND THE SUBURBAIV BUS DIYISION
OF THE REGIONAL TRAIVSPORTATION AUTHORITY (PACE)
WHEREAS, the Village of Buffalo Grove has on its Master Plan the
deyelopment of c mcss transit facility at the intersection of the }liisconsin
Central Railroad ond Busch Parkway, and,
WHEREAS, the Village of Buffalo Grove has negotiated with the property
owners in question for the ccquisit[on of lot 49 adiacent to this
intersection, and,
WHEREAS, the Village of Buffalo Grove believes fhot o multi-mode
transit facility \.!ould be of highest benefit to the Village of Buffalo Grove,
and.,
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDEIVT AND BOARD
OF TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE
COUNTIES, ILLINOIS thlt :
The Village agrees in principal and approves the lntergovernmental
Agreement between itself and the Suburban Bus Dtvision of the Regtonal
Transportation Authority, known as Pace,
Thct approval is subject to the final appro..tal of Buffalo Grovets Village
Attorney, and final coordination with the attorneys for Pace, such
agreement suspected within a 30 day period,
Possed this 9th day of January, 1989.
AYES; 6 - tlarienthal er. Reld. Shields. Sh 1 f r1 n Mathia
1
,
G 1 ov
NAYES: 0 - None
ABSENT: 0 - None
ABSTAIN:
PASSED:
0 - None
January 9 1989
APPROVED:
ATTEST:
APP R D
fn 9-1,,.^
vi ge Clerk
I989
Village President
WHEREAS, the Suburban Bus Division of the Regional Transportation
Authority, commonly known os Pace, has expressed, an interest in the
participation of the development of this proiect ond hos agreed to acquire
thts site and. operate o facility, and to further coordinate with Metra,
the Village and other transit agencies in the further de\)elopment of this
site when appropriate,
IIVTERGOYERN MEN T AL AGREEMEN T
This
U $ c- , 1989 between the Village of
Agreement is made this g'fl\day of
called ttthe Village") and the Suburban Bus
Transportation
called. 'tPacet') ,
Authority (operating under
WHEREAS, pursuont to the Covington Corporate Center Annexation
Agreement dated December 15, 1986 between the Village dnd Horris Trusl
& Scvings Bank, under Ttwst Agreement dated. February 12, 1973, and
knourn os Trrrst Number 35521 and Buffalo Groye Venture, the Village or
other public agency hos o right to purchase certain property identified in
Erhtbit C of the aforementioned Agreement as a potential tronsit station
site, and,,
Enffflo- Crone ltereinafterDivision of the Regional
the name and hereinafter
WIIEREAS, Buffalo Groye V enture (hereinafter called ttthe Deyelopertt) is
the deteloper of parts of the Covington Corporo.te Center, and,
WHEREAS, the Village wishes to reserve
purposes, ond
the property for transit
WHEREAS, Poce desires to purchase the property for the use in its bus
service, and,
WHEREAS, the parties hereto agree to work together to secure the
property and further its use for transit purposes.
ilOll', THERBFORE, in consideration of the mutual promises set forthbelow, the porties agree as follows:
1. The foregoing whereas clouses are hereby made a part hereof.
2. The Village will take appropriate action to secure the right to
purchase the property under the terms of the Anneration Agreement
and Alternative 1 of the Deyeloper's offer letter of December 77,
1988. The Village will extend. to Pace the right to purchase the
property under the aforementioned terms.
J.
4. Pace will take all cctions necessary to submit required opplicotions
to pursue appropriate zoning meosures to allow the property to be
used for tronsit use ond occessory purposes. The Village uill ossist
Pace in the application process and will make best efforts to pursue
Pace will enter into a purchase agreement
the property under the terms set forth
d.eveloper's letter of December 11, 1988.
uith the De\teloPer forin Alternative 1in the
WHEREAS, after approval by the Village of a Plat of Subdivision, the
potentiol commuter tronsit stotion site is known as Lot 49 in Covington
Corporate Center, Unit 2, being a subdivtsion in the southurest one
quarter of Section 27, and the northwest one quarter of Section 34,
T43N, RII east of the Third Principal Meridian in Lake County, Illinois,
recorded October 30, 1987 as document #2627143, uhlch consists of
approximately 6.25 acres, (ond is hereinafter called 'tthe propertytt, orttthe sitett) , and,
the necessary zoning changes, ln the eyent the property does not
neceile the required zoning change, Pace will erercise its sole nghtspursuant to paragraph 9.
Pace is committed to d.eveloping the property for transitaddition to using the property for its bus service,
cooperdte with the Village for the de\)elopment on the
commuter roil stotion in the etent the adiacent roil line is
for commuter use.
use. In
Pace will
site of a
developed
t
At any time after ac quisition, Pace
to the following conditions.'
may sell the property subiect
a)
9
Should Pace decide to sell the property, the Village hos theright of first refusal to purchase the property for the amountpaid by Pace for the property plus the cost of any
improyements made to the property by Pace, plus any costs
incurred. tn obtoining Village approval for the use of theproperty. The Villagets right of first refusal will be effective
for 6 months from the date of notice by pace of intent to sell.
After acquiring the property, Pace will transfer to the Village by
Quit Claim Deed the retention pond located on the property andidentified os Easement #3 on the Plat of Subdivtsion for theColington Corporate Center, Unit II. In the interim period prior to
execution of the Qutt Claim Deed, the Village urill be responsible forthe maintenance, repairs, upkeep, and all olher cosls ond liob ttiesrelated to the retention pond. The Village wi[ indemnify pace onaccount of the Villoge,s negligence for any clo[ms, Iiabilities,
damages, or other costs orising out of the use ond maintenance ofthe retention pond.. Upon transfer, the Village will acquire alt
ownership rights and obltgations for the retention pond, pace willnot take any octions to impede the Village,s occess to the retention
pond and. hereby grants easements to the V illage for sotd occess.
The Village will be responsible for the maintenance and upkeep ofthe property and the Pace transit focilities on it, including the
following services .. cutting the gross,. general lcndscope
maintenance; snou removol; and d.ay to day maintenance of anytransit facility tnstalled, excluding structurol repairs. All finotdeteruninations of maintenance stondords and sched.ules sholl besubiect to a separate maintenance agreement to be entered into
between the Village of Buffalo Grove and. Pace prior to the finatdesign of soid facilities. The Village will perform these services to
the same stondords cs opplied to other Village owned property and
facilities . The Village will indemnify Pace for the Villagets own
negligence for any cloims, Iiobilities, d.amages or other costs orising
out of tts obligotions under thts proviston.
The Village will not take any octions to tmpede dccess by bus tothe site from Commerce Court, or to red.uce Poce,s obility to ser-ve
the property and impro\)ements,
8.
b)ln the e\)ent that the Village does not etercise its right of
first refusal und.er part a), then Pace shall offer the property
for sale to the deteloper at the then current market lalue as
established by Pace based on two independent dpproisdls. The
Developer sholl hcve 60 doys to exercise its rights und.er thisproviston. Deteloperts rights hereunder are not ossignable
without the proper consent of Pace.
d)Should the Village erercise its nghts to purchase the property
from Pace os outlined tn sub-paragraph a), and then
subsequently sell the property uithin 5 years of acquiring it
from Pace, the Village shall, after first reco|ering its cost forthe purchase of the property, plus any improyements, divide
the proceeds of the sale equally with Pace. Such proceeds will
be distributed withrn 60 day s of closing.
e)The developer's right of refusal as d,escribed in sub-paragraphb), sholl exist for the lesser period. of 70 years from the date
of purchase by Pace, or the duration of this Agreement, The
Villagets right of first refusal sholl ertst for the duration
of this Agreement.
10. This Agreement vill be in effect until the property is sold by either
Pace or the Village to a third party and the proceeds are distributed
in accordance r.ytth this Agreement,
11. This Agreement uill be recorded by the parties after purchose of
the property by Pace.
12. Pace will record no co\)enants onof Buffalo Grove.
the property uithout the approval
13. This Agreement sholl be binding upon the property, the parties
hereto and their successors, ond shall be a co\)enant thot shdll run
with the land.
14. Plans for d,erelopment of the subiect property will be submitted
the Village of Buffalo Grove for their reviey).
Iil WI?iIESS WHEREOF, the parties hereto haye coused this Agreement
be made effective and executed as of the date first set forth above
their respective duly authorized officials.
to
to
by
c) Should Pace sell the property to the Deleloper or any party
other than the Village within 5 yeors after acquiring the
property, Poce sholl, after first recovering its cost for the
original purchase plus ony improyements, divide the proceedsof the sale equally with the Village. Such proceeds will be
distributed within 60 doys of clostng.
-4-
VILLAGE OF BUFFALO GROVE SUBURBAN BUS
THE REGIONAL
I'RAIVSPOR ?A TION
(PACE)
DIYISION OF
AUTHORITY
Byt B
Title: Village PreEident T itle :
This document prepared. by and. mail to: wtlliom G. Roysa
1140 Lake Street
Oak Pcrk, Illinois 60301
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